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TOP 3 future trends to watch in data analysis
The volume of data stored and processed is immense and overwhelming. With such previously unimaginable quantities of data worldwide, it is crucial to leverage the data for our advantage. Apart from storing and protecting it safely, we also need unhindered access to it. Moreover, data, to be usable, requires structure and organization, stable and protected channels for retrieving it, for exchanging and sharing it, and we also have to set up secure ways to update and modify the data.
In this article, Semantic Visions will present its expertise in data analysis that serves various industries, with a special focus on its advanced capacity to turn unstructured data into actionable information. By employing automation, big data technologies and advanced analytics techniques we are able to extract valuable insights and identify meaningful patterns and trends. Data that SV delivers enables businesses and organizations to anticipate future trends and outcomes, optimize decision-making processes, and proactively address challenges and opportunities that may arise. SV real time analytics allow for data-driven decisions with greater accuracy and efficiency.
The amount of data consumed by our societies is growing exponentially and it is estimated that the global volume data will have reached 181 zettabytes by 2025. In 2020, the amount of data created and replicated reached a new high. The growth was higher due to the increased demand because of the COVID-19 pandemic, as more people worked and learned from home and used home entertainment options more often.
In order to navigate this vast information landscape, new industries, professions and systems emerged. This sector encompasses various businesses and industries that collect, analyze, process, store, and monetize data. Companies operating in this sector include data analytics firms, data brokers, data management platforms, cloud service providers, cybersecurity companies, and more.
These businesses offer products and services related to data storage, data analysis, data security, data monetization, and data-driven decision-making. With the expanding size and importance of the data industry, the focus on data privacy and cybersecurity is critical.
The global big data technology market size was valued at USD 349.40 bn in 2023 and is projected to grow from USD 397.27 bn in 2024 to USD 1,194.35 bn by 2032. (a CAGR of 14.8%)
Big data refers to large and complex datasets that cannot be effectively processed using traditional data processing applications. These datasets are characterized by their Volume, Velocity, Variety, and Veracity, often referred to as the “4 Vs” of big data.
In addition to the 4 Vs, some interpretations of big data also include other characteristics such as variability, value, and complexity.
Organizations leverage big data to gain actionable insights, drive innovation, improve decision-making, and enhance business outcomes across various industries and domains.
We at Semantic Visions understand this historic shift and have embraced the challenges of navigating this immense landscape of information.
In the modern economy the commercial data sector plays a primary role. It drives innovation, informs strategic planning, and enables businesses to optimize their operations and services.
Semantic Visions, a data analytical firm, provides accurate and reliable technology intelligence across all industries. Our technology leverages information and knowledge from structured and unstructured data in order to make data-driven decisions, keep control on business operations and gain valuable insights.
Harnessing data leads to efficiency and optimization; data-driven insights enable organizations to streamline processes, optimize resource allocation, and improve operational efficiency. Further, productivity is enhanced and costs are reduced. Managing big data leads to innovation and gives a business or organization a competitive advantage.
Semantic Visions, with its big data technologies and practices, driven by the need for faster, more scalable, and more intelligent data analytics solutions, addresses the growing complexity and volume of data generated by organizations worldwide.
The constant development of data analysis is pushed by the convergence of technological innovation, growing data abundance, increased demand for data-driven decision-making. Also interdisciplinary collaboration, regulatory compliance and risk management, and the emergence of data science as a field of study contribute to the continuous evolution of this sector. These factors continue to shape the evolution of data analysis and drive innovation in the field.
The volume of data generated and processed is massive and continues to grow rapidly with advances in technology, connectivity, and data-driven applications.
USE CASE 1: E-commerce upsurge
Semantic Visions, an established data analytics company, has operated in the industry since 2011, delivers on issues ranging from business intelligence and performance to geopolitical risks, from supply chain risks to innovations in security technologies.
Retail e-commerce has picked up after the Covid restrictions and its volume is estimated to exceed 6.3 trillion USD worldwide, making up for 20 % of global retail sales.
Through Semantic Visions media monitoring tools we have been able to follow the growth of a fast developing global online platform and to map the multiple issues related to its rapid expansion.
Employing our automated technology, we identified and analyzed these risks associated with the company’s business growth since 2022 until present:
- Data privacy breaches
- Regulatory compliance concerns
- Detrimental ESG practices
- Involvement in corporate lawsuits
- Forced labor issues
The chart shows the period of monitoring, the intensity of media coverage, presenting the growing trends in the specific area of the business activity. To gain a more detailed insight, specific news articles can be retrieved and the articles can be grouped by their topic. News stories can be aligned by the date of publication, news sources, and languages of publication. A timeline of an occurrence can be drawn.
This SV analysis is performed in 12 languages, covering most of the global news outlets.
The client will receive information or alerts in real-time, updated on an hourly basis, in a structured and accessible format. Media monitoring that provides real-time information is an indispensable tool to keep clients informed of trends and emerging issues.
Online retailer: the chart shows the monitoring period of the online retailer and the intensity of media coverage.
Issues identified (associated with the business expansion):
USE CASE 2: Innovation in oil and gas
The oil and gas industry is a key driver of the global economy. In fact, it’s one of the largest industries in the world, accounting for 3.8% of global GDP.
To replace energy derived from traditional fossil fuels, still accounting for around 82% of the global energy mix, and make a shift to green energy is a key objective of many industries. The oil and gas sector is looking at ways to reduce its environmental impact and contribute to the zero-net transition.
Semantic Visions has been commissioned to map and monitor the latest trends in innovation in the oil and gas industry. Our client, a major oil industry company, requested clear, structured and up-to-date data that would identify the latest technological trends and innovations applied in the industry globally. In addition, major corporate drivers of innovation have been determined.
Thanks to our automated tracking technology, we collected data for the period DEC 2023 to MAR 2024, collecting 753 relevant articles across 12 languages and detecting 284 relevant entities.
SV analysis identified the TOP 5 main innovation trends as follows:
These innovative trends have been applied in the following main categories: digitization and automation, exploration and production, followed by sustainability and environment.
The client benefits from structured and accessible visualized data that offer meaningful intelligence and awareness of trends. Our cutting-edge monitoring technology further delivers real-time data that helps map the industry, its key stakeholders and uncover patterns driving the innovation.
USE CASE 3: Arctic ambitions and projects
The global economy and ever increasing interconnectedness- economic, cultural or financial- have accentuated the shared feeling of responsibility and awareness of planetary issues. Conflict and security, resource depletion, global health challenges, and biodiversity loss dominate the news.
In 2022, the Finnish Meteorological Institute’s study revealed the pace of the temperature increase around the North Pole. In recent decades it was four times higher than the rest of the planet; more alarmingly, some parts of the region, notably the Barents Sea north of Norway and Russia, are warming up to seven times faster.
The looming Global warming crisis has had numeros consequences: new maritime routes are opening, the contest for power comes forth, there is competition for the control and future exploitation of unmapped areas, and the race for oil exploitation and drilling is underway.
The Arctic region, comprising the Arctic Ocean and surrounding landmasses, covering the area of 16.5 m km sq, is experiencing significant environmental, geopolitical, and economic changes. Also, the impact on indigenous communities, with challenges to their cultural survival, food security, and socioeconomic well-being, cannot be neglected.
Semantic Visions’ complex system enables a regular and highly focused monitoring of the region and related environmental, business, political or military endeavors.
This use case, focusing on the Arctic region, was limited to the period between 2021 and 2024.
It revealed some major topics and issues impacting the region, such as diverse territorial claims, plans for new maritime routes, a building up of military facilities, a return of Canada and the US to the region, and last but not least, the scale of Russian disinformation devoted to the issue of territorial claims to the region.
Semantic Visions’ technology, by monitoring the complex and multifaceted situation in the Arctic, helps to understand the complex picture, identify and follow the major issues and key stakeholders. Events such as maritime transport disruption, oil and gas exploration, diplomatic accords, defense and security issues, disaster and accidents, or even disinformation related to the region can be traced and monitored thanks to our technology.
Businesses, organizations or interested individuals may comfortably manage and access all relevant events, monitor evolving issues and changing conditions. Moreover, instant insights and actionable data is at hand.
The Importance of Data Analysis Across Industries
Data analysis plays a crucial role across many fields and industries, including business, finance, healthcare, marketing, science, and technology. By leveraging data analysis techniques, organizations uncover valuable insights, optimize processes, mitigate risks, and drive strategic decision-making.
Leveraging Advanced Analytics
As we have showcased SV expertise in the three use cases, our advanced analytics techniques are essential to keep abreast of global events. Being able to monitor and understand the latest developments gives businesses and organizations an edge and invaluable access to data that is so critical for informed decision-making.
Media Monitoring and Global Awareness
Monitoring of supply chain issues, geopolitical insecurities or tensions or emerging global trends affirms the significance of media monitoring, quantifiable and verifiable, so that the client is provided with the complex and up-to-date picture.
Innovative Solutions through Data
SV-delivered data may serve to discover emerging trends, identify unmet needs, and develop innovative solutions. By analyzing data that Semantic Visions collects from various sources, including alternative data, organizations receive comprehensive and timely information for analysis and decision-making purposes.
Innovation and Implementation of New Technologies
In Semantic Visions we understand the imperative of innovation and implementation of new technologies. In view of the vast volume, variety, and velocity of data involved in big data analytics, we have been developing and integrating AI-driven procedures. Advanced automation and our real-time analytical tools enable us to process an unparalleled amount of data with a focus on its delivery to a client.
Anticipating Future Trends through Automated Data Analysis
Thanks to increased automation of data analysis we are able to anticipate future trends and outcomes, optimize decision-making processes, and proactively address challenges and opportunities. The ability to analyze large and complex datasets efficiently is essential for extracting actionable insights and identifying meaningful patterns and trends, as well as ensuring compliance with regulations, providing enhanced risk management and prompt risk mitigation.
Ethical and Sustainable Data-Driven Decision-Making
Semantic Visions not only embraces the latest technological trends of automation and AI-powered data analysis and innovation, but we also reflect on the evolving landscape of data-driven decision-making and the inevitable integration of ethical considerations and environmental, social, and governance (ESG) principles.
